Jet.com attracts millennials

After its launch earlier this summer, Jet.com has garnered a lot of attention, and it is being most talked about among millennials, according to Prosper Insights & Analytics. CEO Marc Lore's goal when launching the new marketplace was to specifically cater to millennials. The brand has invested $100 million towards marketing to this age group, according to The Washington Post — and it seems to be working. About half of millennials surveyed by Prosper had visited Jet.com's website, and some had gone on to make a purchase on the marketplace.

A sizeable demographic of active internet users are also returning to the site for repeat visits and purchases. As of about two weeks ago, Jet had risen to the No. 4 ranking of top online marketplaces by gross merchandise volume, according to ChannelAdvisor. In just a few months, it has soared past Sears, Best Buy, Newegg, Tesco, and Rakuten. Again, Jet's ability to establish a solid foundation of repeat customers early on bodes well for the company's long-term success, as we have previously discussed.

This story was originally sent to professionals just like you in this morning's E-commerce INSIDER newsletter by BI Intelligence, a subscription research service from Business Insider. Get two weeks risk-free»

In spite of this early triumph, there are still a lot of consumers who are unaware that Jet.com even exists, particularly outside of the millennial age group. The same survey from Prosper Insights & Analytics revealed that 81% of consumers have never heard of the marketplace, and a further 11% have heard of the site but have not visited it. It is still early days for Jet so there is plenty of room to grow and expand its promotional efforts.

Here are other stories you need to know from today's E-commerce INSIDER: